Morning all!
I got nothing this morning to comment on, Happy Halloween to all.
As always, all comment most welcome!
My morning smallcap tweet: CyanConnode & Carpetshite grim.
Carpetright (LON:CPR), Foxtons (LON:FOXT), Cyanconnode Holdings (LON:CYAN), Smartspace Software (LON:SMRT), Oncimmune Holdings (LON:ONC), Mincon (LON:MCON), Biome Technologies (LON:BIOM), PPHE Hotel (LON:PPH)
Carpetshite (CPR) big loan repayment in Dec & July. Needs ~£80m to repay the debt, working capital requirements and necessary growth capital. White knight possible offer by Meditor of 5p (45% discount). Includes d4e swap. Board believes co is 'performing well'.
Foxtons (FOXT) Q3 rev down 7%. House sales rev down 15%, "a resilient performance given the market backdrop". H1 rev was down 3.5%. No FY guidance. I'm short.
CyanConnode (CYAN) unlikely to meet FY market expectations due to further orders delays in India. $48m orders from NIK LLC still no sign of delivery dates: unlikely "revenue will be received from those orders in the near term."
Smartspace Software (SMRT) H1, acquisition & placing. Rev-cont up 57%. Pretax-cont -£4m (-£2.7m). Outlook: "The enterprise business is less predictable due to the size of opportunities, the long sales and deployment cycle and the nature of the revenues generated. However, we have a strong pipeline of near-term opportunities mainly from existing clients, which we expect to develop into contracts over the coming months, which in turn would enable us to deliver on the market expectations for our revenue growth." Could miss expectations then. Also £3.44m placing at 72.5p (a 2% discount but 8% off SP a week ago) to fund acquisition and for working cap. I hold.
Oncimmune (ONC) FY has going concern stmt: "there is a reasonable expectation that the Group has sufficient resources to continue in operational existence for the foreseeable future."
Mincon (MCON) Q3 poor.
In line: Biome Technologies (LON:BIOM), PPHE Hotel (LON:PPH)
